Verified by Visa brings another processor into the fold

Another online payments processor has adopted the Verified by Visa security system. Bibit Global Payment Services, which provides payment services in 60 currencies and payment methods, announced an agreement with euroConex, established by Bank of Ireland and U.S.-based Nova, to adopt Verified by Visa, Visa`s system for authentication of e-commerce payments. Through its collaboration with euroConex, Bibit`s will enable merchants in the United Kingdom and Ireland to accept secure payments using 3-D Secure technology. Bibit`s announcement with euroConex follows a similar agreement between Bibit and Citibank to support the German and Swiss markets.

The first merchant to implement Verified by Visa through Bibit is Psion, an online seller of handheld computers. Fraud risk prohibited Psion from delivering products to addresses other than the credit card billing address, Psion says. "We primarily selected Bibit as our payment service provider in response to our customers’ demand for a wider range of payment methods," said William Goodridge, head of new media and e-commerce for Psion. "We acknowledge the risks attached to credit card payments, and have taken the appropriate steps to minimize our susceptibility to fraudulent transactions. This has often meant not being able to give customers the highest level of service we would want. 3-D Secure is a practical solution for balancing our charge-back risk."

Bibit operates through offices in Germany, France, the United Kingdom, the Netherlands and the United States.